AT&T has announced that iPhone insurance coverage will have some changes starting July 17th. The insurance will protect against theft, loss, liquid or accidental damage or mechanical failure and starts after the original Apple iPhone warranty ends. AT&T says the plan will be managed by Asurion which is a company that already covers many other mobile devices and phones on the market. Protecting your iPhone might be a great investment and the new plan will cost you $4.99 per month for each mobile number you want to protect and come with a $50 or $125 deductible.
The new policy will have an “anytime” cancellation in the terms, but AT&T says they are going to limit the claims by customers to two in a 12 month period. The company says it will replace your iPhone with a new, or remanufactured, phone the next business day. As of right now, AT&T has other iPhone insurance, but that plans costs $11.99 per month with a deductible set at $199. In a post on the AT&T website, the company said, “*Please Note: AT&T Mobile Insurance Update: Effective July 17, 2011, the Apple iPhone (all models) will be eligible for coverage with the AT&T Mobile Insurance program (formerly Wireless Phone Insurance). Enrollment restrictions apply. Customers can only enroll within 30 days of a new activation or upgrade, prior activations or upgrades outside of 30 days are not eligible.”
This insurance is a big change for AT&T who didn’t even offer insurance on the first iPhone when it launched. Now, other companies also provide insurance to cover the valuable Smartphone. Verizon Wireless has an insurance plan, also managed by Asurion which covers their phones for a price of $6.99 with a $199 deductible depending on the model. If you don’t want to use any insurance plans from your cell provider, Apple offers an AppleCare Protection Plan which costs a one-time fee of $69. The plan basically extends your iPhone warranty for two years but with certain limitations.
Some customers wonder if getting an insurance plan is worth it when Apple will actually replace your iPhone for $199 should your Smartphone break after the warranty expires. The repair fee does not cover theft or loss, so if that is something that might concern you, the insurance plan might be more valuable. iPhone business customers might find the insurance more valuable, especially if you are always on the go with your phone and the possibility of theft is greater.
